Least Volatile Year Ever for Bitcoin (Patreon)

In 2023, Bitcoin has exhibited an unprecedented level of stability, marking it as the least volatile/turbulent year in the history of this digital currency. As of September 6, 2023, the value of Bitcoin hovers around $26,000, representing only a modest 10% increase from its opening price at the beginning of the year. This stands in stark contrast to the wild price swings that characterized Bitcoin in preceding years.

Several factors contribute to this newfound stability in Bitcoin's price movement. Firstly, the cryptocurrency has gained substantial traction among institutional investors like Saylor. These financial entities tend to eschew impulsive reactions to market fluctuations, thereby exerting a calming influence on Bitcoin's value.

Secondly, the infrastructure supporting Bitcoin has matured significantly. Regulated exchanges and trusted custodians have emerged, facilitating the acquisition, sale, and secure storage of Bitcoin. This reduction in risk enhances the attractiveness of Bitcoin as an investment and, in turn, curbs its price volatility.

Third, LTHers are not selling

Lastly, the broader cryptocurrency landscape has grown more mature. A plethora of alternative cryptocurrencies now vie for attention alongside Bitcoin, fostering a competitive environment that helps to stabilize Bitcoin's price dynamics.